These 6 Expenses May be Secretly Eating at Your Money and Savings
Do you wonder where all your money went at the end of the month? This is especially after you determine that you haven’t splurged or made unnecessary purchases. However, if you review and take a closer look at your monthly payables, you will find your money loopholes.
“Balancing your money is the key to having enough.”— Elizabeth Warren
Habits are rather automated behaviors that tend to require little or no re-evaluation. Remember the term “force of habit?” You may want to step back and ask yourself if you really need that magazine or Netflix subscription.
Make it your priority to save a certain amount of money each month to avoid getting into the red. You may opt to get the information you need from the online versions of the magazines or just Google for entertainment inspirations and ideas.
How often do you pop in at the gym per month? Perhaps you’re better off canceling that membership, which could total to hundreds of dollars at the end of the year. You could always work out for free at a nearby park or right in your own home. You can also take advantage of free promotional or communal activities that involve physical exertion now and then for variety.
If your workplace offers a wellness program, you can also benefit from that. You can also follow online programs or be guided by YouTube videos. If you’re worried about not having someone to motivate you and whip you into shape, you can enlist a sports buff pal or join a running or cycling group.
Of course, you need to pay your monthly water, heating, and electricity bills. However, ask yourself whether there are ways you can pull those costs even lower. You can, for example, just turn that thermostat down a notch or two to save on your heating bill. It doesn’t make much of a difference with regards to your personal comfort but it can do your monthly budget good.
The Occasional Food Treat
Do you have the habit of buying yourself a latte before heading to work? Or eat out more than once a week? That explains why your monthly expenses leave only a little extra for you to put in your savings pile.
These seemingly innocuous expenses can eat up at your money little by little. If you add up all the costs of these treats, you probably will realize how sneakily damaging these are for your finances.
If you travel via your own car, parking fees and fuel expenses may be making a serious dent in your financial resources. There’s also the cost of maintaining your vehicle and paying its insurance premium. Commuting or sharing a ride will help you cut down on your transportation expenses and bump up the amount you can save per month. You won’t have to worry about finding parking space, too!
Do you find yourself throwing away excess perishables? Perhaps you can estimate how much you or your household really needs each week to minimize or eliminate wastage, which is costly, of course.
You can also opt to buy your supplies in bulk and pick the lower-cost alternatives so you bring down the costs.
More in Real Estate
More Americans Are Saving for Retirement, But Are They Saving Enough?
Good news for Americans as data shows that more individuals are saving for their retirement at a much younger age. Nevertheless,...March 7, 2020
What are 0% Finance Deals and Why Have They Become Unpopular?
Want a brand new car, but don’t have the money to buy it? Well, you can always rely on 0% financing...March 7, 2020
This Wrongfully Imprisoned Man Was Freed After 45 Years And His Reaction Shocked the World
Life in prison can be a tough one. We mean, being away from your family and loved ones can be quite...March 6, 2020
Millennials in Australia Are Prioritizing THIS Over Traveling
A new study by Westpac shows that millennials are now more invested in saving money for their first home deposit rather...March 5, 2020
The Truth about Charities: Why You Shouldn’t Donate Your Old Car
Thinking of giving away your old vehicle to charity to lower your tax burden? It may not be as simple as...March 5, 2020
Matthew McConaughey is the Newest Professor at University of Texas, Here’s What He’ll be Teaching
Ever thought of Matthew McConaughey as a professor? The award-winning actor just got the title added to his name, thanks to...March 5, 2020
J-Lo Gets Ready to Settle Down Once Again After Selling Off Her MASSIVE Park Avenue Condo
After living in their luxurious Park Avenue condo for just over a year, Jennifer Lopez and Alex Rodrigues have decided to...March 4, 2020
Yon Won’t Believe How Much Kylie Jenner Makes Via Instagram
Kylie Becomes Youngest Self-made Billionaire Kylie Jenner is one to take long before she makes the headline, although this time it...February 28, 2020
Investors Lose Hope as Rising Fuel Prices Hit Airline Profits
Air travel industry is booming as more and more people are hopping on planes for summer vacations, but it’s not the...February 28, 2020